Lost Chance
by Marcie
(Brisbane, Queensland, Australia)
My husband and I viewed a property that was going for a steal as it was on a main road. The house had been done up by the current owner, who was a builder by trade, and it looked amazing.
Someone put an offer on it, but it fell through due to finance. I tried again to encourage my husband and us to make an offer. Someone else put an offer on it, and again, it fell through a second time.
My husband couldn't see the potential of the property, which was in a high rental area and would have given good returns.
The house went to auction, and I couldn't convince him to attend the auction. It went for less than expected and lower than all of the offers that had been made. We drive past it every day, and it still makes me sad.
Comment
I Know About Lost Opportunities
by: Lanard
Marcie, I can relate to your story all too well! I've been following foreclosures and short sales recently to see if I can get a deal on an investment property. I want to buy it as an investment rental and have my kids live in it...and then, sometime down the road, sell/give it to them as a starter property.
Like with you, the properties I was most interested in were sold when I got around to evaluating them. It turns out that I needed to act faster, too.
I'm okay with that because I've learned that due diligence pays off over being in a hurry when buying real estate. There's too much at stake to rush things. An upside to this is that there's a property right for me to buy - I need to remain diligent in looking for it and prepared to act when I find it.
